How to record: Product purchased and returned for refund
warlord at MIT.EDU
Sun Oct 29 10:38:30 EST 2006
In the same account. The first would be:
Checking -> Expense
The refund would be:
Expense -> Checking
(Or Credit Card, or whatever)
Quoting Grant <emailgrant at gmail.com>:
> How do you guys record the debit and credit when you purchased
> something and returned it for a refund? It seems like it shouldn't be
> recorded as an expense or as income, but how should the debit and
> credit be assigned?
> - Grant
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Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
Member, MIT Student Information Processing Board (SIPB)
URL: http://web.mit.edu/warlord/ PP-ASEL-IA N1NWH
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